Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Surplus Lines, The Industry’s Safety Valve
Jul 22 2002 // It is a rare occurrence today, but not so long ago tying down the safety valve was viewed as an acceptable way to improve a steam boiler’s performance when demand peaked. The objective was to increase the...
Profits Fell, Losses Climbed for P/C Industry
Jul 22 2002 // It’s pretty much common knowledge by now that the property and casualty insurance industry suffered tremendous losses in 2001, and although the tragedies of September 11 can be blamed for much of the economic...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
Surplus Lines Industry Continues to Play its Role
Jul 22 2002 // Since it’s inception in the early 19th century, the surplus lines industry has played a significant role in the insurance world: providing the buyer with insurance not available in the standard, admitted markets. As...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
Disparities Between House, Senate Bills Hold Up Terrorism Backstop
Jul 22 2002 // The U.S. insurance industry must have breathed a collective sigh of relief June 18, when the Senate approved terrorism insurance backstop legislation after months of debate and delay. But now legislators must reconcile the...
TX GOP in League with Insurers’
Jul 22 2002 // Texas Democrats, claiming Republicans are more sympathetic to insurance companies than to consumers, plan to pursue regulatory reforms to curb the rise of insurance premiums. According to the Fort Worth Star-Telegram,...
The Surplus Lines Market-From Deep in the Heart of Texas
Jul 22 2002 // In the teeth of the first true hard market in nearly two decades, evidence accumulated by the Surplus Lines Stamping Office of Texas confirms the surplus lines insurance market is successfully fulfilling its primary...
Insurers looking at $120M Price Tag for Insured-Property Losses from Ariz. Wildfire
Jul 19 2002 // Insurers are expected to pay an estimated $120 million to home owners and businesses for insured-property losses from the Rodeo-Chediski Complex wildfire in Arizona, according to preliminary projections by the Insurance...
Combined Specialty Group Acquires Excess and Surplus Lines Insurer
Jul 17 2002 // Aon Corporation announced that Combined Specialty Group, Inc. (CSG) has acquired Sheffield Insurance Corporation from Vesta Insurance Group. Aon Capital Markets acted as advisor to CSG in connection with the...
Pa. Gov. Signs Bill Giving Surplus Lines Insurers Freedom on Forms
Jul 16 2002 // Pennsylvania Gov. Mark Schweiker has signed House Bill 599, enabling surplus lines insurers to change or adopt new commercial policy forms without first getting approval from the state insurance department. “Surplus...
Zions Bank Acquiring Utah-based Insurer
Jul 16 2002 // Zions Bank, a subsidiary of Zions Bancorporation, and Grant-Hatch & Associates, Inc., a Salt Lake City-based insurance agency, announced an agreement has been signed under which Zions will acquire Grant-Hatch. Under...
Mo. Gov. Signs Credit-Scoring Bill
Jul 16 2002 // Gov. Bob Holden late last week signed a bill regulating insurers’ use of credit- based insurance scores in auto and property insurance. National Association of Independent Insurers (NAII) Counsel Ann Weber said...
Pair of Chubb Group Insurers Agree to Settlement
Jul 15 2002 // A pair of Chubb Group insurers have agreed to pay $13.5 million to settle with Sunbeam Corp. shareholders who registered a fraud suit against the bankrupt appliance maker, according to the Associated Press. Filed five...
Colo. Bill Would Prohibit Insurers From Refusing to Issue Fire Policy in Disaster Area
Jul 12 2002 // The Colorado House gave initial approval July 10 to a Senate bill that would prohibit insurers from refusing to issue a fire insurance policy within a federally designated disaster area due to wildfire. The prohibition...
ISO Reports Record 2001 Underwriting Losses, Poor Investment Results behind PnC Industry’s First-Ev
Jul 10 2002 // The property/casualty insurance industry recorded its first-ever net loss after taxes in 2001, stemming from sharply higher underwriting losses and substantial deterioration in investment results, according to Insurance...
Weiss Ratings Reports PnC Insurers Suffer $9B Loss in 2001
Jul 9 2002 // The nation’s property and casualty insurers reported a $9 billion loss in 2001, compared to a $27 billion profit in 2000, according to research by Weiss Ratings Inc. By year-end, claims surged to a record $381...
Ariz. Director of Ins. Visits Claims Facilities in Wildfire Area
Jul 9 2002 // Arizona’s director of insurance, Charles Cohen, recently visited Show Low, Ariz. to inspect the on-site catastrophe claims facilities of the four largest homeowner and auto insurers in Arizona: State Farm, Farmers,...
Farm Bureau Mutual to Merge with Kan., Neb. Farm Bureau Affiliated P&C Insurers
Jul 9 2002 // Farm Bureau Mutual Insurance Company announced that the Farm Bureau property-casualty affiliates in Kansas (Farm Bureau Mutual Insurance Company, Inc.) and Nebraska (Farm Bureau Insurance Company of Nebraska) will merge...
Calif. Senate Bills 1763, 1427, 1678 See Action
Jul 8 2002 // Property and casualty insurers and agents and brokers alike can breathe a little easier after a recent California assembly committee hearing on June 26… if only for the time being. The hearing saw some interesting...
